AUD/USD: Australia’s construction sector growth cooled in September


AUDUSD Movement

For the 24 hours to 23:00 GMT, the AUD declined 0.89% against the USD and closed at 0.7791.

LME Copper prices rose 0.9% or $58.0/MT to $6511.0/MT. Aluminium prices declined 0.7% or $15.5/MT to $2124.0/MT.

In the Asian session, at GMT0300, the pair is trading at 0.7761, with the AUD trading 0.39% lower against the USD from yesterday’s close.

Overnight data indicated that Australia’s AiG performance of construction index declined to a level of 54.7 in September, after recording a reading of 55.3 in the prior month.

The pair is expected to find support at 0.7735, and a fall through could take it to the next support level of 0.7708. The pair is expected to find its first resistance at 0.7813, and a rise through could take it to the next resistance level of 0.7864.

The currency pair is trading below its 20 Hr and 50 Hr moving averages.

This entry was posted in AUD/USD. Bookmark the permalink.

Comments are closed.